Were in for another sell off
With which coins?
www.blockchained.comFor the first time, ask volume decreased during the crash, proving that the sells were pure panic. By this time after the november, 900-450 crashcorrection, ask volume had doubled and reached eventually triple the magnitude. In april it also skyrocketed to 4-5 times the initial value. Now it shows absolutely no will to even get back to pre-crash levels.
Honestly, I'm at a loss for how ask depth is a useful indicator here. We have
no idea how many coins are waiting in the wings, off the books. And we don't know the extent of arbitrage being done by Chinese traders.
^This. I still can't believe there's such a huge gap between Gox & BTC China. May not be so easy to arbitrage. But was there always a 100 difference between prices?
BTCchina used to be higher than gox as I remember it. by quite a bit. now it's 100 lower.
Arbitrage has never been possible between the western and the Chinese exchange, the only one bragging about how he was doing arbitrage was rpietila, demonstrating how he's just full of shit.
Are we sure about that?
Yes. If arbitrage was possible we wouldn't have such spreads, the market would immediately take care of them. Arbitrage is risk free profit, if it's possible to have it you exploit it.
And btw, I respectfully proved how rpietila was not making "arbitrage" between China and Stamp, but he deleted all my posts.
The problem is that you cannot efficiently move fiat between exchanges.